FILE PHOTO: The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. REUTERS/Washington Alves/File Photo
SAO PAULO (Reuters) – Minority shareholders of Brazilian iron ore miner Vale SA have enough votes to request that board members be elected independently using a cumulative voting system and not in a single vote approving all names proposed by controlling shareholders, the company said in a filing.
Broker Vic DTVM and fund Geracao Futuro Lpar proposed Patricia Bentes as an independent member, challenging a list of 13 candidates presented by the company’s controlling shareholders.
Vale said in the securities filing on Saturday the election of its board members may occur on Tuesday under the new